capital gains

hi pankaj, i owned a residential bunglow which i have sold last year and against that i have purchased a basement in residential premises. Whether the said transaction is permissible for exemption from capital gain?

asked Oct 03 '11 at 18:58 by champ 1122

If the newly purchased property is with residential status, it would be considered for tax benefit u/s 54.

But in case its a commercial space, it won't be.

answered Oct 04 '11 at 00:37 by Pankaj Batra 5.2k320


Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text]( "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported



Asked: Oct 03 '11 at 18:58

Seen: 1,520 times

Last updated: Oct 04 '11 at 00:37